Jan 12, 2022
Premier Inn owner Whitbread warns of surging cost inflation
Premier Inn owner Whitbread has warned it expects cost inflation to reach between 7 and 8 per cent this year as the sector battles staff shortages and supply chain issues as well as rising energy costs. Whitbread said on Wednesday it expected inflationary pressures to impact £1.4bn of its cost base during the financial year to the end of April 2023, but added that it hoped it could offset this through higher hotel room rates, cost efficiencies and growing its estate. As well as operating Premier Inn hotels, Whitbread runs the Beefeater and Brewers Fayre pub brands. In the three months to the end of November, Premier Inn was buoyed by strong demand for domestic holidays with like-for-like accommodation sales 5.5 per cent ahead of the same period in 2019. In contrast food and drink sales were 13.4 per cent below comparable 2019 levels.
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